During the 3rd Era, the shop was founded by a Redguard by the name of Rindir who excelled in Enchantment magic and the creation of magical staves. He did a lot of business during a conflict between the Mage's Guild and the Fighter's Guild. His family continued to run the shop, and not every generation but every so often a son of the family would be named Rindir.
By the 4th Era, though the name of the shop had not changed, the shop began dealing in more magical trade than just staves.
By the 5th Era, the shop owner had entered into a deal with The Arcane University and some of his trade was offered to the school in an effort to make it easier for students to get the tools they needed.